NLOP (Net Lease Office Properties) Stock Financials & Earnings | Market Cap Arena

NLOP (Net Lease Office Properties) Stock Financials & Earnings | Market Cap Arena

NLOPNet Lease Office Properties

Mkt Cap$210M

Real Estate·REIT - Office·🇺🇸 United States·NYSE

Revenue (TTM)$120M

Net Income (TTM)-$145M

EPS (TTM)-$9.80

Free Cash Flow (TTM)$63M

Gross Margin8.8%

Op. Margin29.4%

Net Margin-121.1%

FCF Margin52.4%

P/S Ratio (TTM)1.8x

P/E Ratio (TTM)—

YoY Rev Growth-15.6%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$43M	$43M	$37M
Q2 23	$43M	$43M	$38M
Q3 23	$43M	$34M	$0
Q4 23	$46M	$43M	$39M
Q1 24	$44M	$34M	$14M
Q2 24	$39M	$28M	$11M
Q3 24	$31M	$21M	$6M
Q4 24	$28M	$17M	$4M
Q1 25	$29M	$19M	$8M
Q2 25	$29M	$19M	$7M
Q3 25	$30M	$22M	$11M
Q4 25	$32M	-$50M	$9M

Valuation

Quarter	P/S	P/E
Q1 23	1.2x	—
Q2 23	1.2x	—
Q3 23	1.1x	—
Q4 23	1.2x	—
Q1 24	1.2x	—
Q2 24	1.2x	—
Q3 24	1.3x	—
Q4 24	1.5x	—
Q1 25	1.6x	—
Q2 25	1.8x	—
Q3 25	1.8x	—
Q4 25	1.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$20M	$20M
Q2 23	$23M	$20M
Q3 23	$21M	$21M
Q4 23	$7M	$552K
Q1 24	$26M	$26M
Q2 24	$15M	$15M
Q3 24	$20M	$28M
Q4 24	$10M	$10M
Q1 25	$14M	$14M
Q2 25	$12M	$12M
Q3 25	$16M	$16M
Q4 25	$22M	$21M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$236K
Q2 23	$2M
Q3 23	$0
Q4 23	$7M
Q1 24	$0
Q2 24	$0
Q3 24	$7M
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$1M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+16.4%	+18.6%
Q2 23	+16.8%	+12.7%
Q3 23	+7.0%	+36.5%
Q4 23	-17.8%	-87.2%
Q1 24	+3.1%	+448.1%
Q2 24	-8.8%	+444.1%
Q3 24	-27.0%	-41.7%
Q4 24	-40.2%	+246.2%
Q1 25	-33.6%	-29.0%
Q2 25	-25.3%	-23.3%
Q3 25	-5.4%	-25.9%
Q4 25	+14.8%	-5.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$775K	1.8%
Q2 23	$838K	2.0%
Q3 23	$952K	2.2%
Q4 23	$338K	0.7%
Q1 24	$75K	0.2%
Q2 24	$0	0.0%
Q3 24	$75K	0.2%
Q4 24	$25K	0.1%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$3M	$2M
Q2 23	$3M	$2M
Q3 23	$3M	$1M
Q4 23	$4M	—
Q1 24	$2M	$16K
Q2 24	$2M	—
Q3 24	$2M	—
Q4 24	$2M	—
Q1 25	$2M	—
Q2 25	$2M	—
Q3 25	$2M	—
Q4 25	$2M	—

Revenue by Geography

Quarter	Non-US	United States
Q3 23	$4M	$39M
Q1 24	$3M	$41M
Q2 24	$2M	$37M
Q3 24	$2M	$29M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$0	$9M	$9M
Q2 23	$56M	$0	$56M
Q3 23	$5M	$0	$5M
Q4 23	$16M	$0	$16M
Q1 24	$40M	$0	$40M
Q2 24	$36M	$0	$36M
Q3 24	$36M	$0	$36M
Q4 24	$25M	$0	$25M
Q1 25	$28M	$0	$28M
Q2 25	$54M	$0	$54M
Q3 25	$39M	$0	$39M
Q4 25	$120M	$0	$120M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	14M	+0.0%
Q2 23	14M	+0.0%
Q3 23	14M	+0.0%
Q4 23	15M	+2.5%
Q1 24	15M	+1.1%
Q2 24	15M	+0.2%
Q3 24	15M	-0.2%
Q4 24	15M	+0.1%
Q1 25	15M	+0.1%
Q2 25	15M	+0.0%
Q3 25	15M	+0.0%
Q4 25	15M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 19	—	—
FY 20	—	—
FY 21	—	—
FY 22	—	—
FY 23	$888K	197
FY 24	$1M	100
FY 25	$1M	100